Adient (NYSE:ADNT) Trading Down 9.6%

Adient plc (NYSE:ADNTGet Rating)’s stock price dropped 9.6% during mid-day trading on Thursday . The stock traded as low as $29.21 and last traded at $29.29. Approximately 3,787 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 1,047,908 shares. The stock had previously closed at $32.39.

ADNT has been the topic of several research analyst reports. BNP Paribas initiated coverage on Adient in a research report on Monday, April 11th. They issued a “neutral” rating and a $32.00 price target on the stock. Morgan Stanley lowered their price target on Adient from $36.00 to $31.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 1st. Barclays reduced their target price on shares of Adient from $45.00 to $37.00 and set an “equal weight” rating for the company in a research note on Thursday, April 7th. Credit Suisse Group reduced their target price on shares of Adient from $55.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, May 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Adient from $59.00 to $41.00 and set a “buy” rating for the company in a research note on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $43.33.

The stock has a market cap of $2.70 billion, a P/E ratio of 3.70, a PEG ratio of 7.92 and a beta of 2.82. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.18 and a quick ratio of 0.91. The business’s 50 day simple moving average is $33.82 and its 200 day simple moving average is $40.14.

Adient (NYSE:ADNTGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.28). Adient had a negative return on equity of 4.92% and a net margin of 5.80%. During the same quarter in the prior year, the firm posted $1.15 EPS. Research analysts predict that Adient plc will post 0.12 earnings per share for the current year.

In other Adient news, EVP Jerome J. Dorlack sold 7,600 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $31.29, for a total transaction of $237,804.00. Following the completion of the transaction, the executive vice president now owns 113,484 shares in the company, valued at $3,550,914.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.68% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of ADNT. Capital World Investors increased its holdings in shares of Adient by 440.0% during the third quarter. Capital World Investors now owns 6,098,847 shares of the company’s stock worth $252,797,000 after buying an additional 4,969,447 shares in the last quarter. Border to Coast Pensions Partnership Ltd acquired a new stake in shares of Adient during the first quarter worth approximately $50,788,000. Letko Brosseau & Associates Inc. acquired a new stake in shares of Adient during the first quarter worth approximately $61,955,000. William Blair Investment Management LLC acquired a new stake in shares of Adient during the fourth quarter worth approximately $41,490,000. Finally, Norges Bank acquired a new stake in shares of Adient during the fourth quarter worth approximately $24,056,000. 94.09% of the stock is owned by institutional investors.

About Adient (NYSE:ADNT)

Adient plc designs, develops, manufactures, and markets a range of seating systems and components for passenger cars, commercial vehicles, and light trucks. The company's seating solutions include frames, mechanisms, foams, head restraints, armrests, and trim covers. It serves automotive original equipment manufacturers in the Americas, including North America and South America; Europe, Middle East, and Africa; and Asia Pacific.

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